Delayed Recovery

Opinions Unlimited

by Atty. Tony(APA) Acyatan (Atty. APA – chairman of Acyatan & Co., CPAs-DFK International is president of PICPA in 1990 and ASEAN Federation of CPAs (1998-2000) and Accountancy Hall-of-Famer (2006).

OBAMA RATING:  It has been almost two years now since the Democrats took over the government reins in the United States of America.  The mid-term elections due in ten days will serve as the accomplishment reckoning for Pres. Barack Obama and his GOP.  The tightly contested states are California, Florida and Colorado.  Gov. Arnold (what’s his surname?) is no longer a candidate having completed two terms.

Unlike in the Philippines – there are many administrative positions here that are being filled up through elections:  State Treasurer, Chief of Police and of the Fire Department, Solicitor and others.  Campaign expenses which are strictly monitored by the electoral boards comprise largely of media costs.  Direct vote-buying as practiced in our country is frowned upon by the Americans.  In fact, such insulting approach usually invites negative voters’ reactions.

REPORT CARD:  Despite Obama’s global popularity (overshadowed only by that of his socially amiable First Lady), the Democrats appear to be trailing in the vote-heavy states.  The campaign baggage of the GOP is the sluggish US economy, characterized by the slumping dollar.  The financial reforms introduced twenty months ago have not registered positive results, as in fact the stock exchange is performing just like a misguided roller-coaster.

Contrary to our Philippine situation (there is no real basis for comparison) – US unemployment rate is still rising.  Financial institutions have yet to recover their past losses on bad loans despite sales of delinquent mortgages (similar to our SPV Law). Stocks traded in the exchanges are not really appreciating in sales averages – unlike the consistently bullish performance of our stock market.  My kumpadre Pres. Noynoy appears to be performing better than Pres. Barack.

BARANGAY:  The US elections do not have the kind of intensity prevailing in the Philippines.  Filipinos have real passion for voting – even or more so – at the barangay level.  When you read this column, our SK elections shall have been conducted likewise.  Here in the US – campaign posters are small and barely noticed by voters.  Past US election statistics show that votes cast hover around 20% only of registered voters and many citizens are not even registered.

We pray that our new barangay and SK leaders will truly understand the meaning of service to their constituents.  It is a fact that many of the past barangay chairmen and kagawads took their oaths more for the legalized salaries and allowances, instead of promoting improvements and development in localities. Communities can thrive and prosper under new talented and service-oriented senior and youth leaders.

RP NEWS:  Everywhere we travel here in the USA – we are being updated by friends (old and new) that the Philippines just suffered typhoon damages in Northern Luzon – and that there is a new one brewing –that might be stronger.  Other news about the Philippines include the forthcoming Pacquiao fight, the media attacks against P-Noy and his administration, and the killings of past and present politicians.

They also ask us about that  little Pinay lady who is giving our country global recognition (no reference to a Pampanga congresswoman).  Yes – Charisse is now a byword among art and song loving Americans (of all colors).  She is being compared with Leah Salonga. We also receive inquiries on our investment programs (partnership between private business and government), our stock exchange, gross international reserves, interest and inflation rates.  These are interested business investors!

REFLECTION:  God provided us with talents and opportunities for a purpose –

to enlighten our neighbors on the right path to life.


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